April 19, 2018 / 9:07 PM / 3 months ago

Eversource bids $748 mln for Connecticut Water, rivaling SJW -source

April 19 (Reuters) - Eversource Energy, New England’s largest power utility, has made a $748 million offer to acquire Connecticut Water Service Inc, seeking to disrupt a merger the latter agreed last month with SJW Group, a person familiar with the matter said on Thursday.

Eversource has offered to pay $63.50 per share in cash and stock for Connecticut Water Service, the source said, asking not to be identified ahead of any official announcement. Connecticut Water Service’ all-stock deal with SJW in March valued it at $61.86 per share.

Eversource, Connecticut Water Service and SJW did not immediately respond to requests for comment. (Reporting by Greg Roumeliotis in New York; Editing by Lisa Shumaker)

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